Finland: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Finland

The Finnish tapered roller bearing market soared to $X in 2021, picking up by 39% against the previous year. The market value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Tapered Roller Bearing Production in Finland

In value terms, tapered roller bearing production fell rapidly to $X in 2021 estimated in export price. In general, production continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 620%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from Finland

In 2021, shipments abroad of tapered roller bearings was finally on the rise to reach X tons after three years of decline. Over the period under review, exports, however, showed a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 72%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, tapered roller bearing exports skyrocketed to $X in 2021. Overall, exports, however, saw a abrupt decline. The growth pace was the most rapid in 2017 with an increase of 243%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Russia (X tons) and China (X tons) were the main destinations of tapered roller bearing exports from Finland, together comprising 42% of total exports. These countries were followed by the Netherlands, Sweden, the United States, France, Chile, Poland, Norway, Singapore, the UK and Brazil, which together accounted for a further 44%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +85.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tapered roller bearing exported from Finland were Russia ($X), Germany ($X) and China ($X), together accounting for 40% of total exports. Singapore, the Netherlands, Sweden, the United States, Norway, France, Poland, Chile, the UK and Brazil lagged somewhat behind, together comprising a further 40%.

In terms of the main countries of destination, Poland, with a CAGR of +66.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average tapered roller bearing export price amounted to $X per ton, reducing by -10.4% against the previous year. Overall, the export price, however, continues to indicate modest growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 100%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Singapore ($X per ton), while the average price for exports to Chile ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into Finland

In 2021, after two years of decline, there was significant growth in purchases abroad of tapered roller bearings, when their volume increased by 57% to X tons. The total import volume increased at an average annual rate of +3.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Germany (X tons) and China (X tons) were the main suppliers of tapered roller bearing imports to Finland, with a combined 84% share of total imports. Belgium, Italy, Sweden, the Netherlands and Austria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing suppliers to Finland were France ($X), Germany ($X) and Belgium ($X), together accounting for 83% of total imports.

Among the main suppliers, France, with a CAGR of +14.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tapered roller bearing import price stood at $X per ton in 2021, with a decrease of -13.3% against the previous year. In general, the import price continues to indicate a slight curtailment. The growth pace was the most rapid in 2018 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Austria ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+10.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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